Ingersoll Rand Hosts Groundbreaking For Chennai Manufacturing Plant To Drive Innovation And Local Product Development
Ingersoll Rand (NYSE: IR), a world leader in creating and sustaining
safe, comfortable and efficient environments, laid the foundation stone
for its new manufacturing plant in Mahindra World City, near Chennai
Ingersoll Rand (NYSE: IR), a world leader in creating and sustaining safe, comfortable and efficient environments, laid the foundation stone for its new manufacturing plant in Mahindra World City, near Chennai today. The company presently has two local manufacturing operations in Naroda, Ahmedabad and Sahibabad, near Delhi. The new facility is part of the company’s overall growth strategy to drive technology innovation and product development to serve local customers. “India is a strategic market for Ingersoll Rand,” said Michael W. Lamach, chairman, president and chief executive officer of Ingersoll Rand, speaking at the groundbreaking ceremony. “Local manufacturing, innovation and market-centric product development are key focus areas for us in India. With the new manufacturing facility, we will be able to position ourselves better to achieve our growth goals here and serve our customers with localized products and services.” Demonstrating its commitment to India and to developing the market as a key manufacturing and innovation hub, Ingersoll Rand will invest in excess of $20 million in the new plant. The manufacturing facility, opening in early 2013, will help provide direct and indirect employment to more than 500 people located in and around the area. Talking about the new manufacturing plant, Venkatesh Valluri, chairman and president of Ingersoll Rand India, said, “ We grow and provide value when we innovate for a local market or are required to alter an existing product to suit local needs. Ingersoll Rand has an opportunity to localize and develop products that meet India’s growing demand for personal security, energy efficiency and home automation. We can better serve these needs with this new facility.” Ingersoll Rand leased 11 acres of land at Mahindra World City for the new plant, which will manufacture and cater to all of Ingersoll Rand India’s businesses, including products and services for air quality, energy efficiency, food preservation and security.